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The Chartered Institute of Marketing (UK) defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably” Combined with the theory that [profit = volume x (price - cost)] and that Perceived Value = Benefits (both emotional and functional) / Price, this helps us arrive at three major postulates of the pricing game. • Pricing is central to profitable brand management. • The greater the benefits perceived by the consumer, the greater the price a brand can ...
Cape Town - Almost three quarters of South Africa's online population regard themselves as "recreational shoppers" - meaning that they shop for entertainment rather than necessity, at least occasionally. This is in line with the world trend, according to a global internet study conducted by ACNielsen. Covering 42 countries, the study polled the responses of 23 500 regular internet users to understand their attitudes to shopping. Local consumers frequently shop "for fun". However, it must be remembered that South African internet users represent the higher LSM ... Read More
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